Global Optical Sensors Market Analysis and Forecast (2013 – 2018) 07/17/2013 | Page 18

4. Global Optical Sensors – Market Forces
4.1. MARKET DRIVERS
4.1.1. Demand from Automation Industry Driving Growth of Optical Sensors

The global automation industry, particularly the process automation and industry is growing at
around 6.3% and they are the primary growth drivers for the global optical sensors market.
Increasing use of automation in different industry verticals like food and beverage, chemicals,
petrochemicals, paper and pulp, packaging drives the need for installation of products or
hardware which uses optical sensors on a larger scale. Image sensors are used in machine vision
based products for assembly line monitoring and other automation purposes. Color sensors for
example are used in the packaging, food and beverage industry for accuracy purposes. Compared
to image sensors they are cheaper, faster and can be replaced easily.

FIGURE 14: GLOBAL PROCESS AUTOMATION AND INSTRUMENTATION
MARKET REVENUE, 2012 - 2018 ($BN)
140
120
100
80
60
40
20
0
2012

2013

2014

Process Automation

2015

2016

2017

2018

Process Instrumentation

Source: IndustryARC Analysis, Expert Interviews, Secondary Sources, Trade Bodies and Associations

The global process automation market revenue is expected to grow from $87.67 billion in 2013,
to $119.29 billion in 2018, at an estimated CAGR of 6.4% from 2013 to 2018. Also, the process
instrumentation market is expected to grow from $23.67 billion in 2013, to $31.71 billion in
2018, with a CAGR of 6%.The instrumentation market is governed by the major players like
Emerson Electric Co. (U.S.), Yokogawa Electric Corporation, Inc. (Japan) and Endress+Hauser
(Switzerland), among others. The APAC region is expected to rejuvenate the process automation

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